Womenomics
Dec 30th 2009
From The Economist print edition

THE late Paul Samuelson once quipped that “women are just men with less money”. As a father of six, he might have added something about women’s role in the reproduction of the species. But his aphorism is about as good a one-sentence summary of classical feminism as you can get.

The first generations of successful women insisted on being judged by the same standards as men. They had nothing but contempt for the notion of special treatment for “the sisters”, and instead insisted on getting ahead by dint of working harder and thinking smarter. Margaret Thatcher made no secret of her contempt for the wimpish men around her. (There is a joke about her going out to dinner with her cabinet. “Steak or fish?” asks the waiter. “Steak, of course,” she replies. “And for the vegetables?” “They’ll have steak as well.”) During America’s most recent presidential election Hillary Clinton taunted Barack Obama with an advertisement that implied that he, unlike she, was not up to the challenge of answering the red phone at 3am.

Many pioneering businesswomen pride themselves on their toughness. Dong Mingzhu, the boss of Gree Electric Appliances, an air-conditioning giant, says flatly, “I never miss. I never admit mistakes and I am always correct.” In the past three years her company has boosted shareholder returns by nearly 500%.

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